Jacksonville bankruptcy lawyers and Orlando bankruptcy lawyers with offices in Jacksonville, Florida and Orlando, Florida, advise that while a chapter 13 bankruptcy is a repayment plan, it offers significant benefits relating to one’s home; some of those benefits are not available in a chapter 7 bankruptcy.
A chapter 13 bankruptcy can save your home from foreclosure. If the chapter 13 bankruptcy is filed in Jacksonville, Florida (or the surrounding counties of Duval County: Clay County, Nassau County, and St. Johns County) or Orlando, Florida (or the surrounding counties of Orange County: Seminole County, Osceola County, and Lake County) you may elect to pay the arrearages on the mortgage through the repayment plan, or mediate and attempt to modify the mortgage entirely. In a chapter 7 bankruptcy, you must be current on your mortgage to keep your home. More information on saving your home from foreclosure can be obtained by contacting a Jacksonville bankruptcy attorney or an Orlando bankruptcy lawyer.
Another benefit of filing a bankruptcy, whether your home is in foreclosure or not, is the ability to remove the lien of a second mortgage or other loan secured by the home, in certain circumstances. To discuss the circumstances in which a lien can be removed from your home, contact a Jacksonville bankruptcy lawyer or an Orlando bankruptcy attorney.
For some, surrendering upside down real estate in the chapter 13 bankruptcy or a chapter 7 bankruptcy is the better option.
Another option is simply foreclosure defense. Jacksonville foreclosure defense lawyers and the Orlando foreclosure defense can discuss the implications of foreclosure defense with you at a free consultation.
To discuss your options relating to a chapter 7 bankruptcy, chapter 13 bankruptcy, foreclosure defense, debt defense, or debt harassment, the Jacksonville bankruptcy attorneys and the Orlando bankruptcy lawyers of Cleaveland & Cleaveland, P.L. offer a free consultation.